Colony Credit Real Estate (CLNC) Tops Q4 EPS by 5c

Colony Credit Real Estate (NYSE: CLNC) reported Q4 EPS of $0.20, $0.05 better than the analyst estimate of $0.15.

Michael J. Mazzei commented, “After an unprecedented year full of uncertainty related to COVID-19, we have successfully stabilized the balance sheet and pivoted the organization to offense. We have approximately $588 million of cash-on-hand, which provides us with flexibility to protect the balance sheet while growing earnings in 2021.”

Michael J. Mazzei commented, “We realize the importance of a dividend to shareholders and I am happy to announce that we will be reinstituting a quarterly dividend of $0.10 per share for the first quarter of 2021. Through our new loan origination activity and other efforts, we are focused on growing earnings and the dividend over time.”

For earnings history and earnings-related data on Colony Credit Real Estate (CLNC) click here.

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